India Gets Its Own Blockchain and Virtual Currency Association
Following RBI's recent notification against Bitcoin use, crypto-companies in India have joined forces to create Blockchain and Virtual Currency Association. India now has its own blockchain association with leading Bitcoin companies as its members. The Blockchain and Virtual Currency Association of India recently had its first meeting in Mumbai last week. The Indian cryptocurrency industry is not having it easy. As the cryptocurrency’s adoption across the world increases, the Indian community has to struggle to get more people onboard amid poor internet penetration and lack of knowledge....
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Following last week’s warning about virtual currencies including bitcoin by the Reserve Bank of India (RBI), four bitcoin startups have formed an association aimed to engage with regulators. The Association. Zebpay, Unocoin, Coinsecure and Searchtrade are in the process of registering their newly formed ‘Blockchain and Virtual currency Association of....
Following last week’s public notice by the Reserve Bank of India (RBI), the country’s central bank, that warned Indians about using virtual currencies like Bitcoin, the still-nascent but growing industry has banded together to form the “Blockchain and Virtual Currency Association of India.” India’s leading bitcoin companies that include the likes of Unocoin, Coinsecure, Zebpay and SearchTrade have come together to form a new industry association that is currently under the process of a formal registration. According to a report in India’s biggest business daily, the Economic Times, the....
Leading Indian Bitcoin exchanges including Zebpay, Unocoin and Coinsecure have formed an industry-wide organization called the Blockchain and Virtual Currency Association of India. Earlier this month, the Reserve Bank of India (RBI) released a document designed to warn users against Bitcoin and its apparent risk. The RBI suggested users to actively look into the risk and unpredictability of Bitcoin trading before they initiate in any activities involving Bitcoin or other digital currencies. Saurabh Agarwal, co-founder of Bitcoin trading and wallet company Zebpay stated: “While we have been....
There has been a flurry of central bank activity recently spewing advice and cautioning citizens about virtual currencies like Bitcoin. First, it was PBOC and now the recently, the Reserve Bank of India (RBI), India’s central bank has come up with a press release that warns Indians about the dangers of dabbling in virtual currencies. RBI cautions holders and traders of Bitcoin. On Feb. 1, 2017, the Reserve Bank of India posted a brief press release on their website saying, “The Reserve Bank of India had cautioned users, holders and traders of Virtual Currencies (VCs), including Bitcoins,....
Reserve Bank of India (RBI) Deputy Governor Rama Gandhi has implied confidence in virtual currency can only come about if authorities endorse it. In cautionary remarks on Bitcoin and Blockchain on Wednesday, the central bank senior also said decentralized technology overtaking traditional forms of tender is a “pipe dream.” “It may remain a pipe dream that Blockchain will eliminate currency by ushering in virtual currency,” he commented, further adding that “it is unlikely.” Gandhi’s remarks come amid fervent trading in Bitcoin and altcoins Ethereum and Dash, in particular, pushing all....